Background*

Mr. George Augustine Roche served as the Chairman and the President of T. Rowe Price Group, Inc. since December 2006 after nearly 39 years with it. Mr. Roche joined T. Rowe Price Associates in 1968 as an analyst covering primarily the natural resources industries. Mr. Roche also served as the President and a Portfolio Manager of the New Era Fund from 1979 to 1997. From 1984 to 1997, he was the Chief Financial Officer of T. Rowe Price Associates and was the Chairman and ... the President of T. Rowe Price Group, Inc. from 1997 to 2006. He served as Chief Executive Officer of T. Rowe Price Group, Inc. Mr. Roche served as Interim Chief Financial Officer of T. Rowe Price Group Inc. until March 8, 2004. He served as Vice President of T. Rowe Price Group, Inc from 1973 to 1987 and has been its employee since 1968. He served as an Independent Director of McCormick & Company, Incorporated from February 01, 2007 to March 26, 2014. He serves as member of the Advisory Board at Strategas Research Partners, LLC. He served as Director of T. Rowe Price Group, Inc from 1980 to December 31, 2006. Mr. Roche has also served on the boards of the Greater Baltimore Committee, Downtown Partnership and The Walters Art Gallery. He earned a B.A. from Georgetown University and an M.B.A. from Harvard Business School.

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